D.A. Davidson & CO. Acquires 209,300 Shares of UiPath Inc. (NYSE:PATH)

D.A. Davidson & CO. boosted its holdings in UiPath Inc. (NYSE:PATH) by 60.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 557,667 shares of the company’s stock after acquiring an additional 209,300 shares during the quarter. D.A. Davidson & CO. owned 0.10% of UiPath worth $7,138,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its position in UiPath by 35.0% in the 1st quarter. Advisors Asset Management Inc. now owns 3,037 shares of the company’s stock valued at $69,000 after acquiring an additional 787 shares in the last quarter. Cowa LLC lifted its position in shares of UiPath by 4.4% during the 3rd quarter. Cowa LLC now owns 26,681 shares of the company’s stock worth $342,000 after buying an additional 1,118 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its position in shares of UiPath by 6.8% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 26,090 shares of the company’s stock worth $334,000 after buying an additional 1,654 shares in the last quarter. Amalgamated Bank lifted its position in shares of UiPath by 7.1% during the 3rd quarter. Amalgamated Bank now owns 27,312 shares of the company’s stock worth $350,000 after buying an additional 1,811 shares in the last quarter. Finally, Bangor Savings Bank lifted its position in shares of UiPath by 2.9% during the 2nd quarter. Bangor Savings Bank now owns 67,040 shares of the company’s stock worth $850,000 after buying an additional 1,873 shares in the last quarter. Institutional investors own 62.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PATH shares. Bank of America lifted their target price on shares of UiPath from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Friday, September 6th. Wells Fargo & Company dropped their target price on shares of UiPath from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Evercore ISI raised their price target on shares of UiPath from $13.00 to $16.00 and gave the stock an “in-line” rating in a research note on Friday, September 6th. TD Cowen decreased their price target on shares of UiPath from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Friday, September 6th. Finally, JPMorgan Chase & Co. decreased their price target on shares of UiPath from $19.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Sixteen research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, UiPath presently has a consensus rating of “Hold” and an average price target of $17.47.

UiPath Trading Down 0.6 %

UiPath stock opened at $14.09 on Thursday. UiPath Inc. has a 1-year low of $10.37 and a 1-year high of $27.87. The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of -70.45 and a beta of 0.87. The firm has a 50 day simple moving average of $12.79 and a 200 day simple moving average of $13.04.

UiPath (NYSE:PATH) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $316.00 million during the quarter, compared to analyst estimates of $303.69 million. UiPath had a negative net margin of 8.13% and a negative return on equity of 3.98%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.09) EPS. On average, equities research analysts forecast that UiPath Inc. will post -0.23 EPS for the current year.

Insider Activity

In other news, CFO Ashim Gupta sold 47,671 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $12.07, for a total transaction of $575,388.97. Following the sale, the chief financial officer now owns 849,917 shares in the company, valued at approximately $10,258,498.19. This trade represents a 5.31 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 22.37% of the company’s stock.

UiPath Profile

UiPath Inc provides an end-to-end automation platform that offers a range of robotic process automation (RPA) solutions primarily in the United States, Romania, the United Kingdom, the Netherlands, and internationally. The company offers a suite of interrelated software to build, manage, run, engage, measure, and govern automation within the organization.